Patterson-Uti Energy stock saw an improvement in its IBD SmartSelect Composite Rating Monday, from 94 to 96. The oil ang gas stock sports a 99 Relative Strength Rating.
The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
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Is Patteson-Uti Energy Stock A Buy?
Patterson-Uti Energy stock cleared a consolidation back in February, hitting new 52-week highs. It's currently extended and now out of buy range. See if the stock pulls back and wait for another buy pattern to emerge. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
One weak spot is the company's 41 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors over the last 13 weeks.
The oil and gas firm reported 32% earnings-per-share growth for Q4. That marks six straight reports with rising EPS gains. Sales growth increased 111%, up from 73% in the prior report. The company has now posted accelerating growth in each of the last five quarters. The company's next quarterly report is expected on or around Apr. 29.
Patterson-Uti Energy stock holds the No. 2 rank among its peers in the Oil & Gas-Drilling industry group. ChampionX Corporation is the No. 1-ranked stock within the group.
